Since you’ve accepted the challenge, I had to test it out myself. This test includes three tiers: 100U, 500U, and 1000U. Here are the results: 1️⃣ 100U tier: Buy at 210, sell at 209.51, 67-second interval, total cost approx. 0.331%. 2️⃣ 500U tier: Buy at 210.46, sell at 210.35, 9-second interval, total cost approx. 0.152%. 3️⃣ 1000U tier: Buy at 210.57, sell at 210.51, 25-second interval, total cost approx. 0.128%. The 500U and 1000U orders were split into two transactions each, but both were executed at the same price with no slippage. Overall, the total cost is roughly between 0.12%–0.15%. Codex’s evaluation of this: Liquidity is solid and slightly strong. The key point is that the 0.12%–0.15% represents the full buy-sell cost, of which approximately 0.10% is already accounted for by the bid-ask spread. The remaining slippage and price fluctuation are only: 500U tier: approx. 0.052%, 5.23 basis points 1000U tier: approx. 0.028%, 2.85 basis points Additionally, even though the orders in the 500U and 1000U tiers were split into two, the execution prices were identical, with no penetration into worse prices. This indicates that market orders in the 500–1000U range can be easily absorbed by the current order book. Note that this result includes NVDA price changes within the 9–25 second intervals, so the actual market impact might be even lower. rToken Liquidity Challenge @bitget